Warren Buffett

In 2006, I made a commitment to gradually give all of my Berkshire Hathaway stock to philanthropic „Philanthropy is the effort or inclination to increase the well-being of mankind, as by charitable aid or donations.“ (http://en.wikipedia.org/wiki/Philanthropy) foundations. I couldn’t be happier with that decision.
Now, Bill and Melinda Gates and I are asking hundreds of rich Americans to pledge at least 50% of their wealth to charity. So I think it is fitting that I reiterate my intentions and explain the thinking that lies behind them.
First, my pledge: More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day.
Millions of people who regularly contribute to churches, schools, and other organizations thereby relinquish the use of funds that would otherwise benefit their own families. The dollars these people drop into a collection plate or give to United Way mean forgone movies, dinners out, or other personal pleasures. In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge.
Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including — I’m proud to say — my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money. A struggling child, befriended and nurtured by a caring mentor, receives a gift whose value far exceeds what can be bestowed by a check. My sister, Doris, extends significant person-to-person help daily. I’ve done little of this.
What I can do, however, is to take a pile of Berkshire Hathaway stock certificates — „claim checks“ that when converted to cash can command far-ranging resources — and commit them to benefit others who, through the luck of the draw, have received the short straws in life. To date about 20% of my shares have been distributed (including shares given by my late wife, Susan Buffett). I will continue to annually distribute about 4% of the shares I retain. At the latest, the proceeds from all of my Berkshire shares will be expended for philanthropic purposes by 10 years after my estate is settled. Nothing will go to endowments; I want the money spent on current needs.
This pledge will leave my lifestyle untouched and that of my children as well. They have already received significant sums for their personal use and will receive more in the future. They live comfortable and productive lives. And I will continue to live in a manner that gives me everything that I could possibly want in life.
Some material things make my life more enjoyable; many, however, would not. I like having an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
My wealth has come from a combination of living in America, some lucky genes, and compound interest. Both my children and I won what I call the ovarian lottery. (For starters, the odds against my 1930 birth taking place in the U.S. were at least 30 to 1. My being male and white also removed huge obstacles that a majority of Americans then faced.) My luck was accentuated by my living in a market system that sometimes produces distorted results, though overall it serves our country well. I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate’s distribution of long straws is wildly capricious.
The reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude. Were we to use more than 1% of my claim checks on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others. That reality sets an obvious course for me and my family: Keep all we can conceivably need and distribute the rest to society, for its needs. My pledge starts us down that course.

… this man is so right….. i never knew him really….. i thought all he cares about is the FED.🙂

well lets see what this money can do in the right hands……. hm……..😉

i shurely would also would have some world-improving ideas…… i guess this is what a big part of my life will be dedicated to anyway. i just can not stand the world how it is today…… the harshness and greed between people that will destroy the „intelligent“ race…… for what? for money!

man always takes from nature but never gives……. i am so glad that warren buffet has decided to give🙂

Thank you warren!

This is my wishlist, that I hope your funding will go to:

o anti-corruption, to make people realize what net result of their acting actually is. with all the consequences.

o developing non-nuclear power sources

o fostering entrepreneureal thinkin in young people around the globe

o how to learn to work together from kindergarden on……

o a kindergarden between the wall of palestina + israel..

o education for the masses……. they need to realize… that they have to start searching + thinking for themselves… doctors are not gods…. they should know, that they don’t know. (much) and that they are sometimes slaves to a corrupt healthcare system…

o teaching mankind what is really important… teaching them how to naturally grow their own natural food… to again experience the wonders of nature…… and how much nature actually gives us…… fruits grow almost „by themselves“…  how to life a happy life… how to be satisfied with the even worst situations (meditation can do a lot… but it needs guidance + teachers that teach for FREE! not for money….. if a teacher takes money for meditation lessons….. don’t pay. try this first:

Fred von Allmen, Vipassana Meditationsanleitungen, Anleitung zur Sitzmeditation in 4 Teilen, Deutsch (AD36):

)

…….. but i must also warn you…….. if this is some kind of „trick“ to calmn down the masses….. because things will get worse for the normal man and women and child.. then this trick will not work in the long run.

i believe in the good in people, so i just believe unchecked what you publish online…… although everyone knows that the internet is full of lies ( i would say 50% of the internet’s content is not true).

Warren Buffet’s Pledge:
to the bill + melinda gates foundation…

rockefeller…. michael bloomberg… lucas george…

http://givingpledge.org/

http://www.portal.gmx.net/de/themen/finanzen/geld/10934278.html

http://www.gatesfoundation.org/annual-letter
/2010/Pages/bill-gates-annual-letter.aspx

2010 Annual Letter from Bill Gates: Introduction

Visiting an Algebra I class at West Charlotte High SchoolVisiting an Algebra I class at West Charlotte High School
(Charlotte, North Carolina, 2009).

This is my second annual letter. The focus of this year’s letter is innovation and how it can make the difference between a bleak future and a bright one.

2009 was the first year my full-time work was as co-chair of the foundation, along with Melinda and my dad. It’s been an incredible year and I enjoyed having lots of time to meet with the innovators working on some of the world’s most important problems. I got to go out and talk with people making progress in the field, ranging from teachers in North Carolina to health workers fighting polio in India to dairy farmers in Kenya. Seeing the work firsthand reminds me of how urgent the needs are as well as how challenging it is to get all the right pieces to come together. I love my new job and feel lucky to get to focus my time on these problems.
The global recession hit hard in 2009 and is a huge setback. The neediest suffer the most in a downturn. 2009 started with no one knowing how long the financial crisis would last and how damaging its effects would be. Looking back now, we can say that the market hit a bottom in March and that in the second half of the year the economy stopped shrinking and started to grow again. I talked to Warren Buffett, our co-trustee, more than ever this year to try to understand what was going on in the economy.
Although the acute financial crisis is over, the economy is still weak, and the world will spend a lot of years undoing the damage, which includes lingering unemployment and huge government deficits and debts at record levels. Later in the letter I’ll talk more about the effects of these deficits on governments’ foreign aid budgets. Despite the tough economy, I am still very optimistic about the progress we can make in the years ahead. A combination of scientific innovations and great leaders who are working on behalf of the world’s poorest people will continue to improve the human condition.

One particular highlight from the year came last summer, when I traveled to India to learn about innovative programs they have recently added to their health system. The health statistics from northern India are terrible—nearly 10 percent of children there die before the age of 5. In response, the Indian government is committed to increasing its focus and spending on health. On the trip I got to talk to Nitish Kumar, the chief minister of Bihar, one of the poorest states in India, and hear about some great work he is doing to improve vaccination rates. I also got to meet with Rahul Gandhi, who is part of a new generation of political leaders focused on making sure these investments are well spent. The foundation is considering funding measurement systems to help improve these programs. Rahul was very frank in saying that right now a lot of the money is not getting to the intended recipients and that it won’t be easy to fix. His openness was refreshing, since many politicians won’t say anything that might discourage a donor from giving more. He explained how organizing local groups, primarily of women, and making sure they watch over the spending is one tactic he has seen make a big difference. The long-term commitment to measuring results and improving the delivery systems that I heard from him and other young politicians assured me that health in India will improve substantially in the decade ahead.

Powered by ScribeFire.

Enhanced by Zemanta